Coppell Advisory Solutions LLC Increases Stock Holdings in McKesson Corporation $MCK

Key Points

• Coppell Advisory Solutions LLC significantly increased its stake in McKesson Corporation by 1,943.6%, acquiring an additional 6,414 shares and bringing its total holdings to 6,744 shares valued at approximately $4.54 million.
• CEO Brian S. Tyler sold 19,371 shares of McKesson stock for over $13.7 million, reducing his ownership by 41%, while other insiders also sold substantial shares recently.
• McKesson announced a quarterly dividend increase to $0.82 per share, with an annualized dividend yield of 0.5%, and the company reportedly missed EPS consensus estimates in its latest earnings report.

Coppell Advisory Solutions LLC increased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 1,943.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,744 shares of the company's stock after acquiring an additional 6,414 shares during the quarter. Coppell Advisory Solutions LLC's holdings in McKesson were worth $4,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC purchased a new stake in McKesson in the fourth quarter worth about $26,000. Bank of Jackson Hole Trust lifted its position in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after buying an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Saudi Central Bank acquired a new position in shares of McKesson during the first quarter valued at about $34,000. Finally, Pandora Wealth Inc. acquired a new position in shares of McKesson during the first quarter valued at about $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE MCK traded down $8.48 during trading hours on Friday, reaching $711.32. The stock had a trading volume of 522,385 shares, compared to its average volume of 704,488. The stock has a fifty day moving average of $697.81 and a 200 day moving average of $693.98. The stock has a market cap of $88.48 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.88 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. This is a boost from McKesson's previous quarterly dividend of $0.71. McKesson's payout ratio is currently 13.08%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Morgan Stanley restated an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $725.10.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.